China's ageing population threatens switch to new economic growth model
Thursday, 18 January 2024 Large groups of the 1.4 billion people living in the world's second-largest economy will exit the labour pool and age past a prime period of their lives for consumption, exacerbating structural imbalances that policymakers have vowed to address. Household consumption's share of economic output in China is already one of the lowest in the world, while many provincial governments - responsible for pensions and elderly care - are deep in debt as a result of decades of credit-fuelled investment-driven growth.
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Credit: Wibbitz Top Stories Duration: 01:31Published
Thursday, 18 January 2024
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